14 Jul, 2025
Intro Paragraph:In a crucial decision, the CESTAT ruling on Customs officer penalty sheds light on how penalties under Customs law cannot stand without corroborative evidence. The ₹1.5 crore penalty, imposed in a Red Sanders smuggling case, was overturned due to lack of direct proof linking the officer to the crime. Background of the Case The […]
Read More14 Jul, 2025
RBI Recognises CareEdge Global IFSC Ratings for Basel III Compliance CareEdge Global IFSC Ratings, the international arm of Credit Analysis & Research Ltd, has now been recognised by the Reserve Bank of India (RBI) for capital adequacy calculation under Basel III norms. This move, notified on 8th July 2025, expands the list of approved external […]
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Gameskraft GST Case Returns to Supreme Court on July 15 The Gameskraft GST case is back in the spotlight. On July 15, 2025, the Supreme Court will hear the matter before Justices J.B. Pardiwala and S.V.N. Bhatti (Mahadevan). This high-stakes hearing will decide the fate of a massive ₹21,000 crore tax demand and clarify the […]
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GST evasion on UPI over ₹40 lakh What Karnataka traders must know If your UPI earnings cross ₹40 lakh annually, ignoring GST compliance could land you in trouble. The Karnataka Commercial Taxes Department has launched a targeted drive against traders — especially small retail and service businesses — who are collecting digital payments but not […]
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Second Demand Notice under IBC is Valid: What NCLAT Ruled The second demand notice under Section 8 of the IBC can be treated as a fresh notice — this recent ruling by the National Company Law Appellate Tribunal (NCLAT) clears the air for many operational creditors who fear technical rejections in insolvency applications. If you’ve […]
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Jane Street’s ₹4,840 Cr Escrow Deposit: SEBI Compliance Explained US-based proprietary trading firm Jane Street Group LLC has deposited ₹4,840 crore (approx. $564 million) into an escrow account to comply with SEBI’s directive — clearing the path for resuming its trading operations in India. This development, reported by Moneycontrol, marks a crucial intersection of cross-border […]
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Income tax refunds are rising across India — and not just in amount, but in speed. Thanks to improved digital systems, more taxpayers are getting quicker refunds directly in their bank accounts. But this trend reveals deeper shifts in how India’s tax system is evolving. Why Income Tax Refunds Are Growing CBDT data shows that […]
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Tax on House Property: What Every Buyer, Seller & Owner Should Know When you invest in real estate, understanding the tax on house property is crucial. Whether you’re buying a flat, selling a property, earning rent, or waiting for possession of an under-construction house—different tax rules apply. This blog simplifies all provisions with official sources […]
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Reconstitution of GSTAT Selection Committee: Legal Validity Explained The reconstitution of GSTAT Selection Committee is legally permissible unless there’s a specific statutory restriction. Recent developments show how tribunals, when faced with administrative or procedural delays, can legally restart the selection process. This blog breaks down the legal position and practical implications for taxpayers and professionals. […]
Read More14 Jul, 2025
GST 12% Slab May Be Scrapped: Major Rate Reshuffle Ahead The GST Council is reportedly considering a major overhaul—scrapping the 12% GST slab entirely. If approved, this would simplify India’s indirect tax structure and impact prices across sectors like insurance, FMCG, and transport. Here’s a breakdown of what it means for you. Why Is the […]
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